News & Views

IFA Review for MyDocSafe

Back office technology update for Financial Advisers & Paraplanners

7 Aug 2019

IFA Review for MyDocSafe

As a trainee IFA, I was given the task of focusing on GDPR and MIFID2. I set about reviewing from a number of various online e-signature portal offering secure methods of that would be suitable for us as a business to communicate effectively and efficiently with our clients. 

After speaking with Daniel (Managing Director of MyDocSafe) and explaining our objectives, I was taken through a full step-by-step guide through the website and key tools as to what would be useful to meet our objectives. What I noticed was how easy it was to upload documents and send these to clients for an e-signature for it to be returned within the space of a couple of hours.  Previously we had used more of a manual process, sending letters to clients and waiting for them to be returned this process was far more efficient and cost effective. 

The simplistic design and navigation through the site makes it very easy to use and allows filing for a large number of clients to be stored clearly. One of the key uses I found was that we could group a large amount of clients together and send a letter for signing to all of these clients instantly to return, this helped with our MIFID2 reviews as working for a company with several hundreds of clients you could get through a vast amount in a short space of time. 

A feature which makes MyDocSafe unique is the fact that it allows you customise the layout of the email the recipient receives, this allowed us to add our logo and present the main frame of the email with what we wanted our clients to see. Document uploading to the site was very quick and easy, and with additional options for setting automatic reminders to clients meant we did not have to manually search and send reminders to clients. 

Overall with the use of MyDocSafe our processes have become far more efficient, and with delivery confirmation receipts and secure distribution of digital documents I am confident our privacy is protected. 

The costs are also extremely competitive when compared with other systems on the market and affordable to the very small business owner. We are now 4-months in since implementation with using the MyDocSafe portal and I highly recommend this system to all in the IFA sector. 

Janathan Peranthanan, Trainee IFA

MLP Wealth Management Ltd 

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